2021 Maverick Commercial Mortgage Closed A $2,100,000 First Mortgage Loan On Two Retail Properties Located In Naperville, Illinois
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Benjamin L. Kadish of Maverick Commercial Mortgage is proud to announce the closing of a first mortgage loan for 236 South
Washington Street and 116 South Webster Street in Naperville, Illinois. 236 South Washington Street is a multi-tenant 6,500 net
rentable square foot retail property leased to a variety of long-term tenants, including: Potbelly Sandwich Works and several
professional services companies. 116 South Webster Street is also a multi-tenant 8,820 net rentable square foot retail property
leased to a variety of long-term tenants. The $2,100,000 fixed-rate loan has a term of five years and amortizes over a 25 year
schedule. The loan has a step-down prepayment provision and was limited to 75% loan to value. The loan paid off the existing
first mortgage, funded a tax and insurance escrow and paid for closing costs. To close a mortgage with very competitive loan
terms on retail properties during covid is an accomplishment in today’s market.
About Maverick Commercial Mortgage, Inc.
Maverick Commercial Mortgage, Inc., arranges a wide variety of commercial real estate loans ranging from $2,000,000 to
$50,000,000 for its middle market real estate developer and investor clients.
Please contact Benjamin L. Kadish at 312-268-6000, 312-953-4344, or at ben.kadish@mavcm.com.